JIM WARNER PART 2B

This brochure supplement provides information about James Warner that supplements the Lear Investment Management brochure. You should have received a copy of that brochure. Please contact Frederick Lear if you did not receive Lear Investment Management’s brochure or if you have any questions about the contents of this supplement. Additional information about James Warner is also available on the SEC’s website at www.adviserinfo.sec.gov. Lear Investment Management Form ADV Part 2B – Individual Disclosure Brochure for James Andrew Warner III Personal CRD Number: 4657145 Managing Director 2911 Turtle Creek Blvd, Suite 920 Dallas, Texas 75219 214-445-5900 Jim@LearIM.com UPDATED: March 2026  Item 2: Educational Background and Business Experience Name: Born: 1973 James (“Jim”) Andrew Warner, III Educational Background: BA, The University of Virginia - 1995 MBA, The Wharton School, University of Pennsylvania - 2003 Business Background: 04/2019 - Present Lear Investment Management Managing Director 07/2016 – 12/2024 Black Ox Advisors LLC Managing Partner 09/2015 – 06/2016 Deimos Asset Management Managing Director & Portfolio Manager 09/2014 – 09/2015 Black Ox Capital LLC Managing Partner 09/2011 – 08/2014 The Citadel Group Portfolio Manager Item 3: Disciplinary Information Jim Warner has no disciplinary or legal events to disclose. Item 4: Other Business Activities Jim Warner does not engage in other business activities.  Item 5: Additional Compensation Jim Warner does not receive any economic benefit from any person, company, or organization, other than Lear Investment Management in exchange for providing clients advisory services through Lear Investment Management. Item 6: Supervision Jim Warner is supervised by Frederick Lear, Managing Partner, who can be reached at 214- 445- 5900. Jim Warner adheres to all required regulations regarding the activities of an Investment Adviser Representative and follows all policies and procedures outlined in the firm’s policies and procedures manual, including the Code of Ethics, and appropriate securities regulatory requirements.